Which option is most likely to require that the mortgage is current for eligibility?

The most likely option to require that the mortgage is current for eligibility is refinancing. When a borrower seeks to refinance their mortgage, they typically need to demonstrate a reliable payment history and that their loan is not in default. This is because refinancing involves taking out a new loan to replace the existing one, and lenders generally want to mitigate their risk by lending only to borrowers who are paying their mortgage on time.

Refinancing allows homeowners to adjust their loan terms, possibly to secure a lower interest rate or change the duration of the loan, and lenders assess the borrower's current financial standing, including their payment history, as part of the qualification process. If the mortgage were not current, it could indicate financial distress, which makes lenders hesitant to approve a new loan since they would be taking on a riskier borrower.